Dollar could be in for some weakness after Fed decision

The U.S. dollar was higher against the Japanese yen in range-bound Asia trade Wednesday, as investors await the Federal Reserve’s decision on whether it would raise interest rates for the first time since 2006.

The U.S. dollar USDJPY, +0.18%  was at ¥121.90, compared with ¥121.70 late Tuesday in New York, hours before the Fed policy-setting meeting.

Investors are now looking to the Fed’s policy statement and news conference for hints on the pace and timing of rate increases.

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